FRANKFURT – Deutsche Telekom shares dropped in early Monday trading after the collapse of the merger of its T-Mobile US unit with Sprint Corp, which would have created a strong No.3 player on the U.S. market. The evaporation of synergies that analysts had estimated at more than Sprint’s $27 billion market capitalization triggered several broker downgrades and sent Telekom’s stock as much as 3.6 percent lower. But some praised Telekom for exercising discipline in not…"Failure of U.S. deal hits Deutsche Telekom shares, growth prospects"
BEIJING/PARIS – Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions. The deal to sell Nidera Seeds, which operates in Latin America, was announced by COFCO International and Syngenta in a statement on Monday. Financial terms were not disclosed but a Syngenta spokesman said it hoped to have regulatory approvals completed by the end of…"China’s COFCO sells Latam seeds business to Syngenta"
DUBAI/SINGAPORE – Qatar Airways has broadened its global reach by purchasing a 9.61 percent stake in Cathay Pacific , adding another strategic investor to the Hong Kong carrier’s complicated share register at a time when it is looking to cut costs. Hong Kong’s Kingboard Chemical Holdings said it had sold the stake to Qatar Airways for HK$5.16 billion ($661 million), making the Middle Eastern carrier the third-largest shareholder in Cathay. For Cathay, the Qatar stake…"Rebuffed by American Airlines, Qatar Airways buys into Cathay Pacific"
– U.S. cable operator Altice USA will sell mobile service on wireless carrier Sprint Corp’s network under a new multi-year agreement announced on Sunday, becoming the latest firm to enter the wireless market in a bid to retain customers. The companies announced the agreement a day after Sprint and T-Mobile US Inc ended merger talks. Under the terms of the agreement, Altice, the fourth-largest U.S. cable operator, will use Sprint’s network to provide voice and…"Altice USA, Sprint agree to wireless partnership"
FRANKFURT – The collapse of the attempt by T-Mobile US to merge with Sprint Corp will underline its importance as a driver of growth when its main owner, Deutsche Telekom, reports quarterly results this week. T-Mobile, under charismatic CEO John Legere, keeps hitting home runs, already reporting it that added 1.3 million net customers in the third quarter – the 18th time in a row it has achieved the feat. T-Mobile reported revenues in the…"Growth without scale: Deutsche Telekom’s T-Mobile headache"
JERUSALEM – Billionaire businessman Len Blavatnik is looking to buy a significant stake in debt-ridden Israeli drugmaker Teva Pharmaceutical Industries , according to Israeli media reports. Two of Israel’s leading financial news outlets, Globes and The Marker, reported on Sunday that Blavatnik has been examining a large share purchase in Teva, whose stock price hit a 17-year low last week after the company again cut its annual profit forecast. A spokesman for Blavatnik’s U.S.-based industrial…"Billionaire Blavatnik weighs big share purchase in Teva Pharm: reports"
SAN FRANCISCO/NEW YORK – Sprint Corp and T-Mobile US Inc said on Saturday they have called off merger talks to create a stronger U.S. wireless company to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own. The announcement marks the latest failed attempt to combine the third- and fourth-largest U.S. wireless carriers, as Sprint parent SoftBank Group Corp and T-Mobile parent Deutsche Telekom AG , show unwillingness to part…"Sprint, T-Mobile call off merger after months of talks"
SHANGHAI – Chinese regulators are questioning anti-virus software maker Qihoo 360 Technology Co Ltd’s disclosures in its planned $7.5 billion backdoor listing. The Shanghai Stock Exchange sent a letter of enquiry to elevator maker SJEC Corp, Qihoo 360’s listing vehicle, requesting more information about the software maker’s business model, financial details and restructuring history, SJEC said in a statement on Saturday. The scrutiny came a day after SJEC said it would acquire Qihoo 360 through…"Chinese regulator questions Qihoo 360 over $7.5 billion listing"
– Communications chipmaker Broadcom Ltd is planning to unveil a bid for smartphone chip supplier Qualcomm Inc by Monday, three sources familiar with the matter said on Friday, an attempt to create a roughly $200-billion company through the biggest technology acquisition ever. A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raises the stakes for Intel Corp , which has been diversifying into smartphone technology from its…"Broadcom plans record tech deal with Qualcomm bid: sources"
– U.S. pharmacy operator CVS Health Corp and health insurer Aetna Inc are working toward finalizing merger terms and announcing a deal for more than $70 billion as early as December, according to people familiar with the matter. The deal would combine CVS, one of the largest U.S. pharmacy benefits managers and drugstore chains, with Aetna, one of the oldest health insurers, whose far-reaching business ranges from employer healthcare to government plans nationwide. The companies…"CVS, Aetna aim to finalize deal as early as December: sources"